https://www.taxtmi.com/caselaws?id=11190 The court upheld the Tribunal's decision, ruling in favor of the assessee against the Revenue. It concluded that legal expenses related to the amalgamation of companies are allowable as deduction if incurred wholly and exclusively for the purpose of the business. The judgment emphasized the timing and purpose of the expenses in determining their deductibility for income tax purposes, affirming that such expenses are in the course of carrying on the business and are thus deductible as revenue expenditure. en-us Thu, 12 Feb 2004 00:00:00 +0530 Sat, 01 Aug 2009 12:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11190 The court upheld the Tribunal's decision, ruling in favor of the assessee against the Revenue. It concluded that legal expenses related to the amalgamation of companies are allowable as deduction if incurred wholly and exclusively for the purpose of the business. The judgment emphasized the timing and purpose of the expenses in determining their deductibility for income tax purposes, affirming that such expenses are in the course of carrying on the business and are thus deductible as revenue expenditure. Case-Laws Income Tax Thu, 12 Feb 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11190